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Article: Cambrex Corporation Announces R&D Charge
- Article from:
- PR Newswire
- Article date:
- November 18, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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EAST RUTHERFORD, N.J., Nov. 18 /PRNewswire/ -- Cambrex Corporation (Amex: CBM), announced today that it will record charge of approximately $14 million related to the value of in process research and development efforts underway at the time of the acquisition of Bio Whittaker, Inc. which was completed on October 3, 1997. This charge, which is consistent with pharmaceutical industry practice, reflects the recognition of the value of the continuing efforts to develop new products in the biotechnology marketplace, which will permit Bio Whittaker to stay a market leader in this field.
Cambrex also indicated that the proposed acquisition of the Celgene Chiral ...